Stocks in news: DLF, Hindalco and more
With Sensex gaining over 500 points on WPI inflation data and hopes of a rate cut by the RBI amid a pause in rupee's fall, here are the five stocks that remained in news today.
With Sensex gaining over 500 points on WPI inflation data and hopes of a rate cut by the RBI amid a pause in rupee's fall, here are the five stocks that remained in news today:
- DLF: India's largest realty firm DLF on Thursday reported a 5 per cent decline in consolidated net profit at Rs 121.55 crore for the quarter ended June due to higher finance cost and rise in operational expenses. Total income increased to Rs 2,345.62 crore in April -June quarter of 2015-16 from Rs 1,851.6 crore in the year-ago period, DLF said in a filing to the BSE. Its shares rose by 18.28 per cent to close at Rs 134.90 apiece on Friday.
- Hindalco Industries: Aluminium maker Hindalco on Friday reported a steep 67 per cent drop in standalone net profit at Rs 107.19 crore for the quarter ended June 30, due to lower realisation. Standalone revenue of the company was up 7 per cent to Rs 8,575.27 crore in April-June quarter of this fiscal from Rs 7,996.14 crore in the same quarter of 2014-15. The company's total expenses rose by 8 per cent to Rs 8,029.92 crore from Rs 7,434.79 crore in the reported quarter. Its shares rose by 2.64 per cent to close at Rs 93.30 apiece on Friday.
- GMR Infrastructure: GMR Infrastructure's consolidated net loss narrowed to Rs 429.45 crore for the June quarter. GMR Infrastructure's net sales in the quarter under review rose to Rs 2,928.22 crore, up 8.47 per cent, as against Rs 2,699.38 crore in the same quarter a year earlier, GMR Infrastructure said in a BSE filing. Its shares rose by 2.80 per cent to close at Rs 13.21 apiece on Friday.
- Indian Oil Corporation (IOC): Finance Ministry has shortlisted five merchant bankers, including Citibank and Nomura, for disinvestment of 10 per cent stake in IOC, which could fetch the exchequer about Rs 9,500 crore. Moreover, the nation's biggest oil company, on Thursday reported 2.5-fold jump in its June quarter net profit to Rs 6,436 crore as refining margin rose to 7-year high. It reported net profit of Rs 6,435.70 crore, or Rs 26.51 per share, for April-June quarter of the current fiscal, compared with Rs 2,522.94 crore, or Rs 10.39 a share, in the year-ago period. Its shares fell by 1.24 per cent to close at Rs 389.10 apiece on Friday.
- Tata Steel: The company on Thursday said it has received shareholders' nod to raise up to Rs 10,000 crore through securities to meet capital requirements. In a BSE filing, the firm said its shareholders approved "further issuance of securities not exceeding Rs 10,000 crore." Its shares rose by 1.50 per cent to close at Rs 237.10 apiece on Friday.